NAB manages an earnings surprise

FinanceLeave a comment

For the past two years bank chief executives have been explaining away the rising trend in bad and doubtful debt charges by saying rhe increases were off a low – abnormally low – base. The tone of the discussion changed yesterday when National Australia Bank’s chief executive designate, Cameron Clyne, said the bad-debt cycle had…

China's slowdown

Oliver's InsightsLeave a comment

This note looks at the slowdown now unfolding in China. The key points are as follows: – Chinese growth has already slowed significantly on the back of slowing exports and a property slump. Growth is likely to slow to 8% in 2009. – However, a hard landing (say 5% growth) is unlikely: the global financial turmoil…